Kerry Properties Limited announced on October 5 that it has acquired a site at Lung Cheung Road, Beacon Hill (New Kowloon Inland Lot No. 6533) for HK$7,268.8 million through public tender. The company plans to designate the site for the development of a low-density premium residential project. Located at Lung Cheung Road, Beacon Hill, the site occupies an area of 235,000 square feet with a buildable gross floor area of 342,769 square feet. The site is adjacent to another site at Beacon Hill acquired by the company in early 2015.